“Hidden in the CARES Act was an obscure $135 billion tax break for 43,000 millionaires.”
Social media posts
social media posts. Claim dated 14 May 2020.
PolitiFact rated thisMostly True
What PolitiFact found
This refers to a real provision in the CARES Act that eases restrictions passed in 2017 that limited how extensively pass-through corporations can apply business losses to the owner’s individual tax burden.
Their words, from the summary they publish with the rating.
In short
This claim spread on social media around 14 May 2020. PolitiFact (United States) looked into it and published its finding on 26 May 2020, 12 days later. Its rating was “Mostly True”.
Where the claim appeared
- Saved copy of the posthttps://archive.fo/qsTFI
Links recorded by PolitiFact. Some posts may have been deleted since.
This check was done by PolitiFact, not by DoesItStand. We list it so you can find it. Their full evidence and reasoning are in their article.